MANACT
ActiveSummary
MANACT has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€31,803) and a net result of €7,240. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 8% of 7114 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability87▲+84
Solvency0=
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.58 against 0.49 in 2024; short-term debt: 128.9% and cash: 38% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-64.2%
Return on assets
14.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 8% of 7114 sector peers (2025).
NBB · sector comparisonPosition among 7114 sector peers
Solvency
better than 8%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
58 d early
2023
49 d early
2022
28 d late
2021
3 d late
2020
33 d early
2019
17 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 18 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 30 June (4 of the last 5 filed years within 34 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€7,240
2024 · -€6,979
Working capital
-€26,692▲ 33.3%
2024 · -€40,010
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€14,094€6,278€8,786▲ 39.9%-€4,549€8,164
Net result-€14,558below the sector's middle half€5,798within the sector's middle half€7,982within the sector's middle half▲ 37.7%-€6,979below the sector's middle half€7,240within the sector's middle half
Equity-€45,843below the sector's middle half▼ 46.5%-€40,046below the sector's middle half▲ 12.6%-€32,064below the sector's middle half▲ 19.9%-€39,043below the sector's middle half▼ 21.8%-€31,803below the sector's middle half▲ 18.5%
Total assets€21,920below the sector's middle half▼ 27.6%€22,758below the sector's middle half▲ 3.8%€63,224within the sector's middle half▲ 178%€55,907below the sector's middle half▼ 11.6%€49,531below the sector's middle half▼ 11.4%
Debt€67,764▲ 10.1%€62,804▼ 7.3%€95,287▲ 51.7%€94,950▼ 0.4%€81,334▼ 14.3%
Working capital-€40,084below the sector's middle half▼ 6.8%-€33,491below the sector's middle half▲ 16.4%-€20,647below the sector's middle half▲ 38.4%-€40,010below the sector's middle half▼ 93.8%-€26,692below the sector's middle half▲ 33.3%
Solvency-209.1%below the sector's middle half▼ 105.8pp-176.0%below the sector's middle half▲ 33.2pp-50.7%below the sector's middle half▲ 125.3pp-69.8%below the sector's middle half▼ 19.1pp-64.2%below the sector's middle half▲ 5.6pp
Current ratio0.31below the sector's middle half▼ 0.080.37below the sector's middle half▲ 0.060.75below the sector's middle half▲ 0.370.49below the sector's middle half▼ 0.260.58below the sector's middle half▲ 0.09
Return on assets (ROA)-66.4%below the sector's middle half▼ 75.2pp25.5%above the sector's middle half▲ 91.9pp12.6%within the sector's middle half▼ 12.8pp-12.5%below the sector's middle half▼ 25.1pp14.6%within the sector's middle half▲ 27.1pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €8,164 after a loss of €4,549 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €49,531
Fixed assets
€12,354 ▼ 26.8%
Current assets
€37,177 ▼ 4.7%
Key figures and ratios
EBITDA
€14,002▲
2024 · -€4,185
Cash flow
€13,077▲
2024 · -€6,616
Quick ratio
0.57▲
2024 · 0.48
Debt to equity
-2.56▼
2024 · -2.43
Interest coverage
9.18▲
2024 · -2.49
Debt ≤ 1 year
€63,869▼
2024 · €79,029
Income taxes
-€601▼
2024 · €754
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
5.3%
stopped otherwise
92%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,795 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,463 | €2,494 | €1,110 | €364 | €5,837 | ▲ 1,506% |
| Other operating charges640/8 | €566 | €955 | €1,339 | €2,376 | €914 | ▼ 61.5% |
| Gross operating margin9900 | -€11,066 | €9,728 | €11,234 | -€1,809 | €14,916 | ▲ 924% |
| Operating profit (loss)9901 | -€14,094 | €6,278 | €8,786 | -€4,549 | €8,164 | ▲ 279% |
| Financial income75/76B | €1 | - | €2 | €6 | €0 | ▼ 100% |
| Recurring financial income75 | €1 | - | €2 | €6 | €0 | ▼ 100% |
| Financial charges65/66B | €250 | €249 | €581 | €1,682 | €1,525 | ▼ 9.3% |
| Recurring financial charges65 | €250 | €249 | €581 | €1,682 | €1,525 | ▼ 9.3% |
| Profit (loss) for the period before taxes9903 | -€14,343 | €6,029 | €8,207 | -€6,225 | €6,639 | ▲ 207% |
| Income taxes67/77 | €215 | €231 | €225 | €754 | -€601 | ▼ 180% |
| Profit (loss) for the period9904 | -€14,558 | €5,798 | €7,982 | -€6,979 | €7,240 | ▲ 204% |
| Profit (loss) for the period to be appropriated9905 | -€14,558 | €5,798 | €7,982 | -€6,979 | €7,240 | ▲ 204% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €21,920 | €22,758 | €63,224 | €55,907 | €49,531 | ▼ 11.4% |
| Fixed assets21/28 | €3,779 | €2,747 | €1,638 | €16,888 | €12,354 | ▼ 26.8% |
| Tangible fixed assets22/27 | €3,280 | €2,248 | €1,138 | €16,388 | €11,855 | ▼ 27.7% |
| Furniture and vehicles24 | €3,280 | €2,248 | €1,138 | €16,388 | €11,855 | ▼ 27.7% |
| Financial fixed assets28 | €499 | €499 | €499 | €499 | €499 | = |
| Current assets29/58 | €18,141 | €20,010 | €61,586 | €39,020 | €37,177 | ▼ 4.7% |
| Stocks and contracts in progress3 | - | - | - | €860 | €563 | ▼ 34.5% |
| Stocks30/36 | - | - | - | €860 | €563 | ▼ 34.5% |
| Amounts receivable within one year40/41 | €3,177 | €16,018 | €15,347 | €18,209 | €3,154 | ▼ 82.7% |
| Trade receivables40 | €3,177 | €16,018 | €15,347 | €12,253 | €3,154 | ▼ 74.3% |
| Other amounts receivable41 | - | - | - | €5,956 | €0 | ▼ 100% |
| Current investments50/53 | €701 | €1,651 | €2,556 | €67 | €1,276 | ▲ 1,797% |
| Cash at bank and in hand54/58 | €12,278 | - | €18,282 | €2,432 | €18,838 | ▲ 675% |
| Deferred charges and accrued income490/1 | €1,985 | €2,342 | €25,401 | €17,451 | €13,346 | ▼ 23.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €21,920 | €22,758 | €63,224 | €55,907 | €49,531 | ▼ 11.4% |
| Equity10/15 | -€45,843 | -€40,046 | -€32,064 | -€39,043 | -€31,803 | ▲ 18.5% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Distributable reserves133 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€66,295 | -€60,497 | -€52,515 | -€59,494 | -€52,254 | ▲ 12.2% |
| Amounts payable17/49 | €67,764 | €62,804 | €95,287 | €94,950 | €81,334 | ▼ 14.3% |
| Amounts payable within one year42/48 | €58,225 | €53,501 | €82,233 | €79,029 | €63,869 | ▼ 19.2% |
| Financial debts43 | - | €128 | - | - | - | - |
| Credit institutions430/8 | - | €128 | - | - | - | - |
| Trade debts44 | €3,040 | €3,497 | €1,831 | €2,564 | €12 | ▼ 99.6% |
| Suppliers440/4 | €3,040 | €3,497 | €1,831 | €2,564 | €12 | ▼ 99.6% |
| Taxes, remuneration and social security45 | €2,939 | €3,203 | €7,399 | - | €414 | - |
| Taxes450/3 | €2,939 | €3,203 | €7,399 | - | €414 | - |
| Other amounts payable47/48 | €52,246 | €46,672 | €73,003 | €76,465 | €63,443 | ▼ 17.0% |
| Accrued charges and deferred income492/3 | €9,539 | €9,303 | €13,054 | €15,921 | €17,465 | ▲ 9.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€14,558 | €5,798 | €7,982 | -€6,979 | €7,240 | ▲ 204% |
| + Depreciation and write-downs630 | €2,463 | €2,494 | €1,110 | €364 | €5,837 | ▲ 1,506% |
| Operating cash flow (approximation) | -€12,095 | €8,292 | €9,092 | -€6,616 | €13,077 | ▲ 298% |
| Investment in fixed assets (approximation) | - | -€1,462 | €0 | -€15,614 | -€1,304 | ▲ 91.6% |
| Change in cash | - | - | - | -€15,850 | €16,406 | ▲ 204% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €7,240
Net result €7,240 after one loss-making year.
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Back to profitnet €5,798
Net result €5,798 after one loss-making year.
03-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 3 days late
2021
31-12
Financial
Weakest financial yearnet -€14,558
Net result drops to -€14,558, the lowest in the series; recovery starts the following year.
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €2,655
Net result €2,655 after one loss-making year.
17-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 17 days late
2019
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
08-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Beauvechain · 1 establishment unit since 2003
Ground area
2,686 m²
Building footprint
441 m²
Volume, LiDAR
2,645 m³
Parcel 25038C0029/00N002, Wallonia · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MANACT
since 20032.113.265.358
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25038C0029/00N002 | Wallonia | 2,686 m² | 1 · 441 m² | 8.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 2,709 companies in sector 73200 we hold annual accounts for 1,786. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded22-12-1994
Fiscal year end31-12
Activities, NACEBEL 2025
73200Market research and public opinion polling
58110Book publishing
58130Publishing activities
68310Real estate agency activities
73110Advertising agencies
79901Tourist information services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0454052941
Also
9925:BE0454052941
Registered
29-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.